China's Lenovo swings to full-year loss on M&A costs

Revenue down: The world's biggest PC maker booked a net loss of US$128mil (RM519.88mil) for the business year ended March, it's first loss in six years. — Reuters

HONG KONG: China's Lenovo Group Ltd on May 26 reported its first loss in six years, with earnings pulled down by acquisition and restructuring costs as well as weak sales of smartphones and personal computers (PCs). 

The world's biggest PC maker booked a net loss of US$128mil (RM519.88mil) for the business year ended March, from US$829mil (RM3.37bil) profit a year earlier. The result compared with the Thomson Reuters SmartEstimate loss of US$123.6mil (RM502.01mil).